Cardel Inc., a VAT taxpayer, operates a coliseum which caters to various athletic and artistic competition or

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Cardel Inc., a VAT taxpayer, operates a coliseum which caters to various athletic and artistic

competition or events.

During the quarter, Cardel reported receipts from the following events:

Professional non-titled boxing bouts P800,000

Philippine championship boxing bouts 1,200,000

Professional basketball games 1,600,000

Amateur basketball games 2,000,000

Concert of various musical artists 1,600,000

1. How much is the total quarterly percentage taxes?

2. How much is the value added tax?

Related Book For answer-question

Financial Accounting and Reporting a Global Perspective

ISBN: 978-1408076866

4th edition

Authors: Michel Lebas, Herve Stolowy, Yuan Ding

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Posted Date: Mar 15, 2024 02:54 AM

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Cardel Inc., a VAT taxpayer, operates a coliseum which caters to various athletic and artistic competition or

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Financial Accounting and Reporting a Global Perspective

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